Credit Card Spending Jumps 11% in Nov: CareEdge Flags Key Drivers

• India's credit card spending surged 11.5% YoY to ₹1.89 lakh crore in November 2025, driven by deeper card penetration and digital consumption.
• Growth is attributed to an expanding card base (11.5 crore outstanding cards) rather than higher per-card spending, indicating market maturation.
• Private banks maintain dominance but public sector banks gained market share by expanding issuance and leveraging reach beyond urban centers.
• Online channels accounted for approximately 60% of total credit card volumes, outpacing offline transactions and reinforcing digital shift.
• Credit growth slowed due to tighter regulatory norms on unsecured lending, leading banks to recalibrate portfolios towards better-quality borrowers.

Why It Matters: India's credit card spending grew over 11% in November, driven by wider adoption and digital payments.